The funding round supporting Spectral Edge has been led by Midven's Rainbow Seed Fund and the Iceni Seedcorn Fund based at the University of East Anglia.

Spectral Edge was founded in 2012 as a spin-out from the university to exploit novel image fusion technology.

Image fusion is a large field and refers to the process of combining many different images into a single display image and its applications can be found in photography, remote sensing and medical imagery.

Spectral Edge said it had developed a platform technology but its first target application was to address colour deficiency in vision.

The £300,000 funding will provide working capital to enable Spectral Edge to expand its team, complete the development of its 'Eyeteq' product and take it to market.

Mark White, investment director of Midven's Rainbow Seed Fund, said: "The appeal of this technology to such a large market makes this potentially an exciting investment for Rainbow.

"Spectral Edge has already shown traction within its intended market and possesses a comprehensive patent portfolio that will allow it to maximise the scope of its technology."

Dr Robert Swann, chairman of Spectral Edge, added: "Midven and Iceni have excellent records of supporting early stage technology companies and we are delighted to have them on board at this exciting stage in our development."

The Rainbow Seed Fund is a £24m, earlystage venture capital fund dedicated to kick-starting technology companies developed at UK publicly funded research facilities.